Sipho Phiri challenges Zambians to consider using the exploits of past generations as inspiration for creating a new narrative for Zambia. Sipho Phiri is a Zambian entrepreneur and a banker by profession with extensive Corporate Finance experience. Sipho has a wide range of business interests including the development of Western Power, a hydroelectric power station in Western Province, property development, a private cemetery and Zambia’s first Tier 3 multi-tenant data centre. Sipho recently established a solar power generation project, and along with his brother formed the DARP Foundation to promote education and sports for underprivileged Zambians. Sipho serves as Honorary Consul for the Kingdom of Denmark. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx

FinanceBankZambiaPLC continues to proceed with its listing on the LuSE and the locals will have a chance to own a stake in FBZ very soon.

published:11 Mar 2015

views:29

Zambia's finance minister has presented a 64.5 billion kwacha ($6.6 billion) budget to parliament.
The 2017 budget contains proposed measures aimed at curbing the country's budget deficit at a time when commodity price slumps have forced mine closures in the country as well as caused a rise in unemployment and food prices.
Finance MinisterFelix Mutati told parliament that Zambia would cut its fiscal deficit to 7 percent of Gross Domestic Product (GDP) in 2017 from the 2016 projection of 10 p…
READ MORE : http://www.africanews.com/2016/11/12/zambia-s-finance-minister-presents-66bn-budget-to-parliament
Africanews is a new pan-African media pioneering multilingual and independent news telling expertise in Sub-Saharan Africa.
Subscribe on ourYoutube channel : https://www.youtube.com/c/africanews
Africanews is available in English and French.
Website : www.africanews.com
Facebook : https://www.facebook.com/africanews.channel/
Twitter : https://twitter.com/africanews

This is an inspiring story about a 19 year old girl in Lusaka, Zambia who, like many other young women in Africa, is her family's only hope for survival.
Annetty Chama searched for a job for 2 years, when her older brother who supported the family passed away her family's situation became desperate.
A phone call, a mobile money entrepreneur training programme and the 'Girl Effect' changed EVERYTHING.

published:24 Jul 2017

views:1706

ABN caught up with the Bank of Zambia's governor Michael Gondwe, to discuss the state of financial inclusion in the country.

published:06 Feb 2013

views:74

Financing tops list of challenges for zambian small and medium-sized businesses.
Subscribe: https://goo.gl/eeXniN
Financing tops list of challenges for Zambian small and medium-sized businesses File: Assorted Zambian crafts for sale at the Lusaka Sunday Market The ZambiaDevelopment Agency has said that small and medium-sized enterprises (SMEs) are vital to creating jobs in Zambia and ensuring economic growth. Based on various studies, The World Bank estimates as much as eighty percent of Zambia’s private sector business comprises of SMEs, employing seventy-six percent of the country’s labour force. Yet, th...
Subscribe: https://goo.gl/eeXniN

published:13 Dec 2017

views:22

Lusaka is Zambia's heartland and capital city. It's the country's chief administrative centre and major financials, transportation and manufacturing hub. Lusaka is one of the fastest growing cities in the SADAC region with a population that stands at 1 461 000, according to the Southern AfricanCitiesNetwork. Watch the episode and explore more on the city's investment case.

Lusaka

Lusaka is the capital and largest city of Zambia. One of the fastest-developing cities in Southern Africa, Lusaka is located in the southern part of the central plateau at an elevation of about 1,279 metres (4,195 feet). As of 2010, the city's population is about 1.7 million, while as the urban population is 2.4 million. Lusaka is the centre of both commerce and government in Zambia and connects to the country's four main highways heading north, south, east and west. English is the official language of the city, but Nyanja and Bemba are also common.

Government and administration

As national capital, Lusaka is the seat of the legislative, executive and judicial branches of government, epitomized by the presence of the National Assembly (parliament), the State House (office of the President), and the High Court. The Parliament is situated at the Parliament complex, which features a 15-story building. The city is also the capital of Lusaka Province, the smallest and most populous of the country's nine provinces, and forms an administrative district run by Lusaka City Council. In 2007, the mayor was Steven Chilatu (PF), and the deputy mayor was Mary Phiri.

Originally inhabited by Khoisan peoples, the region was affected by the Bantu expansion of the thirteenth century. After visits by European explorers in the eighteenth century, Zambia became the British protectorate of Northern Rhodesia towards the end of the nineteenth century. For most of the colonial period, Zambia was governed by an administration appointed from London with the advice of the British South Africa Company.

In 1954 the Southern Rhodesia Currency Board was renamed the Currency Board of Rhodesia and Nyasaland, and as the winds of change were strong in Africa at the time, the currency board was transformed into the Bank of Rhodesia and Nyasaland in 1956.

Zambians Need to Think BIG....again. | Sipho Phiri | TEDxLusaka

Sipho Phiri challenges Zambians to consider using the exploits of past generations as inspiration for creating a new narrative for Zambia. Sipho Phiri is a Zambian entrepreneur and a banker by profession with extensive Corporate Finance experience. Sipho has a wide range of business interests including the development of Western Power, a hydroelectric power station in Western Province, property development, a private cemetery and Zambia’s first Tier 3 multi-tenant data centre. Sipho recently established a solar power generation project, and along with his brother formed the DARP Foundation to promote education and sports for underprivileged Zambians. Sipho serves as Honorary Consul for the Kingdom of Denmark. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx

Finance Bank of Zambia Continues its listing on LuSE- 2015

FinanceBankZambiaPLC continues to proceed with its listing on the LuSE and the locals will have a chance to own a stake in FBZ very soon.

1:42

Zambia's finance minister presents $6.6bn budget to parliament

Zambia's finance minister presents $6.6bn budget to parliament

Zambia's finance minister presents $6.6bn budget to parliament

Zambia's finance minister has presented a 64.5 billion kwacha ($6.6 billion) budget to parliament.
The 2017 budget contains proposed measures aimed at curbing the country's budget deficit at a time when commodity price slumps have forced mine closures in the country as well as caused a rise in unemployment and food prices.
Finance MinisterFelix Mutati told parliament that Zambia would cut its fiscal deficit to 7 percent of Gross Domestic Product (GDP) in 2017 from the 2016 projection of 10 p…
READ MORE : http://www.africanews.com/2016/11/12/zambia-s-finance-minister-presents-66bn-budget-to-parliament
Africanews is a new pan-African media pioneering multilingual and independent news telling expertise in Sub-Saharan Africa.
Subscribe on ourYoutube channel : https://www.youtube.com/c/africanews
Africanews is available in English and French.
Website : www.africanews.com
Facebook : https://www.facebook.com/africanews.channel/
Twitter : https://twitter.com/africanews

5:09

Zed Investing 101

Zed Investing 101

Zed Investing 101

Lusaka's Young Women Entrepreneurs

This is an inspiring story about a 19 year old girl in Lusaka, Zambia who, like many other young women in Africa, is her family's only hope for survival.
Annetty Chama searched for a job for 2 years, when her older brother who supported the family passed away her family's situation became desperate.
A phone call, a mobile money entrepreneur training programme and the 'Girl Effect' changed EVERYTHING.

4:40

Financial Inclusion in Zambia

Financial Inclusion in Zambia

Financial Inclusion in Zambia

ABN caught up with the Bank of Zambia's governor Michael Gondwe, to discuss the state of financial inclusion in the country.

3:18

Financing tops list of challenges for zambian small and medium-sized businesses

Financing tops list of challenges for zambian small and medium-sized businesses

Financing tops list of challenges for zambian small and medium-sized businesses

Financing tops list of challenges for zambian small and medium-sized businesses.
Subscribe: https://goo.gl/eeXniN
Financing tops list of challenges for Zambian small and medium-sized businesses File: Assorted Zambian crafts for sale at the Lusaka Sunday Market The ZambiaDevelopment Agency has said that small and medium-sized enterprises (SMEs) are vital to creating jobs in Zambia and ensuring economic growth. Based on various studies, The World Bank estimates as much as eighty percent of Zambia’s private sector business comprises of SMEs, employing seventy-six percent of the country’s labour force. Yet, th...
Subscribe: https://goo.gl/eeXniN

26:46

Invest Africa Episode 64: Lusaka as an Investment Destination

Invest Africa Episode 64: Lusaka as an Investment Destination

Invest Africa Episode 64: Lusaka as an Investment Destination

Lusaka is Zambia's heartland and capital city. It's the country's chief administrative centre and major financials, transportation and manufacturing hub. Lusaka is one of the fastest growing cities in the SADAC region with a population that stands at 1 461 000, according to the Southern AfricanCitiesNetwork. Watch the episode and explore more on the city's investment case.

Gov. Gondwe on financial inclusion & development in Zambia, by CNBC

Bank of Zambia's Governor, Dr. Michael Gondwe, discusses on the state of financial inclusion and overall potential development of Zambia.
► Zambia’s economy is continually growing (above 6%) but it is growing in unequal ways where the poor are left out in this growth. Dr. Gondwe covers in brief on what the government is doing and ought to be doing to reduce the inequalities, and to spur more growth.
Among the major priorities are reducing dependency on copper which is still by far the backbone of Zambia’s economy. Unstable copper prices which highly impact Zambia’s economy have shown it’s not a dependable mainstay for our economy. Dr. Gondwe says reducing dependency on copper will come by increasingly diversifying into non-traditional exports. He says this is where Zambia's future strength lies.
He says Zambia has comparative advantages in the sub-region and beyond in many non-traditional exports like agriculture. GoodFDI is facilitating investment in these areas. On the domestic front there’s the critical need to increase the participation of Zambians in the economy. It is important that that all Zambians should benefit from our God-given resources.
One of the areas the government is working to facilitate increased economic participation of Zambians is in the financial sector. The financial sector is increasingly being reformed to address economic challenges that hinder more equitable growth. This includes access to affordable credit that can offer opportunities to financially excluded communities to start or advance their commercial ventures.
Thus financial inclusiveness is critical for lower-income households that have long been excluded from the mainstream credit market in Zambia’s liberalized economy. Zambia has a Financial SectorDevelopment Plan (FSDP) which has financial inclusiveness goals, among other things.
FINANCIAL INCLUSIVENESS
►In regard to financial inclusiveness in Zambia the national Financial Sector Development Plan (FSDP) says: “One of the widely recognised principal obstacles to economic growth has been the state of the financial sector, which currently plays a limited role in the economy. The financial sector is characterised by low financial intermediation (with limited access to financial services for the rural population and the low-to-middle income earners), high costs of funds and undeveloped money and capital market.
“The vision for the Financial Sector is therefore to have a stable, sound and market-based financial system that support the efficient mobilisation and allocation of resources necessary to achieve economic diversification, sustainable growth and poverty reduction.
“In order to realise this vision, a number of weaknesses in the financial sector need to be addressed including:
(i) low financial intermediation;
(ii) poor credit culture in the market;
(iii) the multiple and potentially conflicting roles of the Government in the financial sector;
(iii) the weak regulatory framework for non-bank financial institutions (NBFIs), insurance and pension funds;
(iv) the undeveloped capital market;
(v) lack of long-term development and housing finance; and
(vi) the limited number of monetary policy instruments.
“…The focus is on key elements of a strategy for restructuring the development finance institutions (DFIs), housing finance institutions (HFIs) and the rural banking institutions as well as developing a regulatory framework for the micro-finance institutions (MFIs).
“…Following the collapse of most of the subsidised and publicly funded rural finance institutions, such as, LimaBank, ZCFFinance Services and the Cooperative Bank in the mid-1990s, there has been a gap in the provision of financial services to the low-income households in the rural and peri-urban areas. …Micro finance institutions (MFIs) have risen to fill the gap in the provision of financial services. MFIs offer financial services, such as, small loans and savings facilities in the peri-urban and rural areas. Although expansion is much slower in rural areas, growth is evident along the line of rail and the peri-urban areas of the country,” Financial Sector Development Plan (FSDP).
ABOUT DR. GONDWE
PresidentMichael Sata appointed Dr. Michael Goondwe as Governor of the Bank of Zambia in 2011. Prior to this he was the President of the PTA Bank, Kenya. He served as the Bank’s longest serving admin staff (25 yrs).
Dr. Gondwe studied law at University of Zambia for his undergraduate, and his post graduate law studies were at University of Virginia. He also holds an MBA (Masters in Business Administration) degree from Moi University, Kenya, and a Diploma in Finance from the Kenya College of Accountancy. He is also an alumnus of the Advanced ManagementProgramme of the University of Oxford.
► For more info see the business section at the Zambian Website: http://www.Zambian.com
► Feb 2013 video and interview by CNBC Africa television network.

Zambians Need to Think BIG....again. | Sipho Phiri | TEDxLusaka

Sipho Phiri challenges Zambians to consider using the exploits of past generations as inspiration for creating a new narrative for Zambia. Sipho Phiri is a Zambian entrepreneur and a banker by profession with extensive Corporate Finance experience. Sipho has a wide range of business interests including the development of Western Power, a hydroelectric power station in Western Province, property development, a private cemetery and Zambia’s first Tier 3 multi-tenant data centre. Sipho recently established a solar power generation project, and along with his brother formed the DARP Foundation to promote education and sports for underprivileged Zambians. Sipho serves as Honorary Consul for the Kingdom of Denmark. This talk was given at a TEDx event using the TED conference format but independe...

Save the Children - Regional Finance Training

Finance Bank of Zambia Continues its listing on LuSE- 2015

FinanceBankZambiaPLC continues to proceed with its listing on the LuSE and the locals will have a chance to own a stake in FBZ very soon.

published: 11 Mar 2015

Zambia's finance minister presents $6.6bn budget to parliament

Zambia's finance minister has presented a 64.5 billion kwacha ($6.6 billion) budget to parliament.
The 2017 budget contains proposed measures aimed at curbing the country's budget deficit at a time when commodity price slumps have forced mine closures in the country as well as caused a rise in unemployment and food prices.
Finance MinisterFelix Mutati told parliament that Zambia would cut its fiscal deficit to 7 percent of Gross Domestic Product (GDP) in 2017 from the 2016 projection of 10 p…
READ MORE : http://www.africanews.com/2016/11/12/zambia-s-finance-minister-presents-66bn-budget-to-parliament
Africanews is a new pan-African media pioneering multilingual and independent news telling expertise in Sub-Saharan Africa.
Subscribe on ourYoutube channel : https://www.youtube.com/c/afr...

published: 12 Nov 2016

Zed Investing 101

Lusaka's Young Women Entrepreneurs

This is an inspiring story about a 19 year old girl in Lusaka, Zambia who, like many other young women in Africa, is her family's only hope for survival.
Annetty Chama searched for a job for 2 years, when her older brother who supported the family passed away her family's situation became desperate.
A phone call, a mobile money entrepreneur training programme and the 'Girl Effect' changed EVERYTHING.

published: 24 Jul 2017

Financial Inclusion in Zambia

ABN caught up with the Bank of Zambia's governor Michael Gondwe, to discuss the state of financial inclusion in the country.

published: 06 Feb 2013

Financing tops list of challenges for zambian small and medium-sized businesses

Financing tops list of challenges for zambian small and medium-sized businesses.
Subscribe: https://goo.gl/eeXniN
Financing tops list of challenges for Zambian small and medium-sized businesses File: Assorted Zambian crafts for sale at the Lusaka Sunday Market The ZambiaDevelopment Agency has said that small and medium-sized enterprises (SMEs) are vital to creating jobs in Zambia and ensuring economic growth. Based on various studies, The World Bank estimates as much as eighty percent of Zambia’s private sector business comprises of SMEs, employing seventy-six percent of the country’s labour force. Yet, th...
Subscribe: https://goo.gl/eeXniN

published: 13 Dec 2017

Invest Africa Episode 64: Lusaka as an Investment Destination

Lusaka is Zambia's heartland and capital city. It's the country's chief administrative centre and major financials, transportation and manufacturing hub. Lusaka is one of the fastest growing cities in the SADAC region with a population that stands at 1 461 000, according to the Southern AfricanCitiesNetwork. Watch the episode and explore more on the city's investment case.

Zambia market update

Gov. Gondwe on financial inclusion & development in Zambia, by CNBC

Bank of Zambia's Governor, Dr. Michael Gondwe, discusses on the state of financial inclusion and overall potential development of Zambia.
► Zambia’s economy is continually growing (above 6%) but it is growing in unequal ways where the poor are left out in this growth. Dr. Gondwe covers in brief on what the government is doing and ought to be doing to reduce the inequalities, and to spur more growth.
Among the major priorities are reducing dependency on copper which is still by far the backbone of Zambia’s economy. Unstable copper prices which highly impact Zambia’s economy have shown it’s not a dependable mainstay for our economy. Dr. Gondwe says reducing dependency on copper will come by increasingly diversifying into non-traditional exports. He says this is where Zambia's future strengt...

Zambians Need to Think BIG....again. | Sipho Phiri | TEDxLusaka

Sipho Phiri challenges Zambians to consider using the exploits of past generations as inspiration for creating a new narrative for Zambia. Sipho Phiri is a Zamb...

Sipho Phiri challenges Zambians to consider using the exploits of past generations as inspiration for creating a new narrative for Zambia. Sipho Phiri is a Zambian entrepreneur and a banker by profession with extensive Corporate Finance experience. Sipho has a wide range of business interests including the development of Western Power, a hydroelectric power station in Western Province, property development, a private cemetery and Zambia’s first Tier 3 multi-tenant data centre. Sipho recently established a solar power generation project, and along with his brother formed the DARP Foundation to promote education and sports for underprivileged Zambians. Sipho serves as Honorary Consul for the Kingdom of Denmark. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx

Sipho Phiri challenges Zambians to consider using the exploits of past generations as inspiration for creating a new narrative for Zambia. Sipho Phiri is a Zambian entrepreneur and a banker by profession with extensive Corporate Finance experience. Sipho has a wide range of business interests including the development of Western Power, a hydroelectric power station in Western Province, property development, a private cemetery and Zambia’s first Tier 3 multi-tenant data centre. Sipho recently established a solar power generation project, and along with his brother formed the DARP Foundation to promote education and sports for underprivileged Zambians. Sipho serves as Honorary Consul for the Kingdom of Denmark. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx

Zambia's finance minister has presented a 64.5 billion kwacha ($6.6 billion) budget to parliament.
The 2017 budget contains proposed measures aimed at curbing the country's budget deficit at a time when commodity price slumps have forced mine closures in the country as well as caused a rise in unemployment and food prices.
Finance MinisterFelix Mutati told parliament that Zambia would cut its fiscal deficit to 7 percent of Gross Domestic Product (GDP) in 2017 from the 2016 projection of 10 p…
READ MORE : http://www.africanews.com/2016/11/12/zambia-s-finance-minister-presents-66bn-budget-to-parliament
Africanews is a new pan-African media pioneering multilingual and independent news telling expertise in Sub-Saharan Africa.
Subscribe on ourYoutube channel : https://www.youtube.com/c/africanews
Africanews is available in English and French.
Website : www.africanews.com
Facebook : https://www.facebook.com/africanews.channel/
Twitter : https://twitter.com/africanews

Zambia's finance minister has presented a 64.5 billion kwacha ($6.6 billion) budget to parliament.
The 2017 budget contains proposed measures aimed at curbing the country's budget deficit at a time when commodity price slumps have forced mine closures in the country as well as caused a rise in unemployment and food prices.
Finance MinisterFelix Mutati told parliament that Zambia would cut its fiscal deficit to 7 percent of Gross Domestic Product (GDP) in 2017 from the 2016 projection of 10 p…
READ MORE : http://www.africanews.com/2016/11/12/zambia-s-finance-minister-presents-66bn-budget-to-parliament
Africanews is a new pan-African media pioneering multilingual and independent news telling expertise in Sub-Saharan Africa.
Subscribe on ourYoutube channel : https://www.youtube.com/c/africanews
Africanews is available in English and French.
Website : www.africanews.com
Facebook : https://www.facebook.com/africanews.channel/
Twitter : https://twitter.com/africanews

Lusaka's Young Women Entrepreneurs

This is an inspiring story about a 19 year old girl in Lusaka, Zambia who, like many other young women in Africa, is her family's only hope for survival.
Anne...

This is an inspiring story about a 19 year old girl in Lusaka, Zambia who, like many other young women in Africa, is her family's only hope for survival.
Annetty Chama searched for a job for 2 years, when her older brother who supported the family passed away her family's situation became desperate.
A phone call, a mobile money entrepreneur training programme and the 'Girl Effect' changed EVERYTHING.

This is an inspiring story about a 19 year old girl in Lusaka, Zambia who, like many other young women in Africa, is her family's only hope for survival.
Annetty Chama searched for a job for 2 years, when her older brother who supported the family passed away her family's situation became desperate.
A phone call, a mobile money entrepreneur training programme and the 'Girl Effect' changed EVERYTHING.

Financing tops list of challenges for zambian small and medium-sized businesses

Financing tops list of challenges for zambian small and medium-sized businesses.
Subscribe: https://goo.gl/eeXniN
Financing tops list of challenges for Zambia...

Financing tops list of challenges for zambian small and medium-sized businesses.
Subscribe: https://goo.gl/eeXniN
Financing tops list of challenges for Zambian small and medium-sized businesses File: Assorted Zambian crafts for sale at the Lusaka Sunday Market The ZambiaDevelopment Agency has said that small and medium-sized enterprises (SMEs) are vital to creating jobs in Zambia and ensuring economic growth. Based on various studies, The World Bank estimates as much as eighty percent of Zambia’s private sector business comprises of SMEs, employing seventy-six percent of the country’s labour force. Yet, th...
Subscribe: https://goo.gl/eeXniN

Financing tops list of challenges for zambian small and medium-sized businesses.
Subscribe: https://goo.gl/eeXniN
Financing tops list of challenges for Zambian small and medium-sized businesses File: Assorted Zambian crafts for sale at the Lusaka Sunday Market The ZambiaDevelopment Agency has said that small and medium-sized enterprises (SMEs) are vital to creating jobs in Zambia and ensuring economic growth. Based on various studies, The World Bank estimates as much as eighty percent of Zambia’s private sector business comprises of SMEs, employing seventy-six percent of the country’s labour force. Yet, th...
Subscribe: https://goo.gl/eeXniN

Lusaka is Zambia's heartland and capital city. It's the country's chief administrative centre and major financials, transportation and manufacturing hub. Lusaka is one of the fastest growing cities in the SADAC region with a population that stands at 1 461 000, according to the Southern AfricanCitiesNetwork. Watch the episode and explore more on the city's investment case.

Lusaka is Zambia's heartland and capital city. It's the country's chief administrative centre and major financials, transportation and manufacturing hub. Lusaka is one of the fastest growing cities in the SADAC region with a population that stands at 1 461 000, according to the Southern AfricanCitiesNetwork. Watch the episode and explore more on the city's investment case.

Bank of Zambia's Governor, Dr. Michael Gondwe, discusses on the state of financial inclusion and overall potential development of Zambia.
► Zambia’s economy is continually growing (above 6%) but it is growing in unequal ways where the poor are left out in this growth. Dr. Gondwe covers in brief on what the government is doing and ought to be doing to reduce the inequalities, and to spur more growth.
Among the major priorities are reducing dependency on copper which is still by far the backbone of Zambia’s economy. Unstable copper prices which highly impact Zambia’s economy have shown it’s not a dependable mainstay for our economy. Dr. Gondwe says reducing dependency on copper will come by increasingly diversifying into non-traditional exports. He says this is where Zambia's future strength lies.
He says Zambia has comparative advantages in the sub-region and beyond in many non-traditional exports like agriculture. GoodFDI is facilitating investment in these areas. On the domestic front there’s the critical need to increase the participation of Zambians in the economy. It is important that that all Zambians should benefit from our God-given resources.
One of the areas the government is working to facilitate increased economic participation of Zambians is in the financial sector. The financial sector is increasingly being reformed to address economic challenges that hinder more equitable growth. This includes access to affordable credit that can offer opportunities to financially excluded communities to start or advance their commercial ventures.
Thus financial inclusiveness is critical for lower-income households that have long been excluded from the mainstream credit market in Zambia’s liberalized economy. Zambia has a Financial SectorDevelopment Plan (FSDP) which has financial inclusiveness goals, among other things.
FINANCIAL INCLUSIVENESS
►In regard to financial inclusiveness in Zambia the national Financial Sector Development Plan (FSDP) says: “One of the widely recognised principal obstacles to economic growth has been the state of the financial sector, which currently plays a limited role in the economy. The financial sector is characterised by low financial intermediation (with limited access to financial services for the rural population and the low-to-middle income earners), high costs of funds and undeveloped money and capital market.
“The vision for the Financial Sector is therefore to have a stable, sound and market-based financial system that support the efficient mobilisation and allocation of resources necessary to achieve economic diversification, sustainable growth and poverty reduction.
“In order to realise this vision, a number of weaknesses in the financial sector need to be addressed including:
(i) low financial intermediation;
(ii) poor credit culture in the market;
(iii) the multiple and potentially conflicting roles of the Government in the financial sector;
(iii) the weak regulatory framework for non-bank financial institutions (NBFIs), insurance and pension funds;
(iv) the undeveloped capital market;
(v) lack of long-term development and housing finance; and
(vi) the limited number of monetary policy instruments.
“…The focus is on key elements of a strategy for restructuring the development finance institutions (DFIs), housing finance institutions (HFIs) and the rural banking institutions as well as developing a regulatory framework for the micro-finance institutions (MFIs).
“…Following the collapse of most of the subsidised and publicly funded rural finance institutions, such as, LimaBank, ZCFFinance Services and the Cooperative Bank in the mid-1990s, there has been a gap in the provision of financial services to the low-income households in the rural and peri-urban areas. …Micro finance institutions (MFIs) have risen to fill the gap in the provision of financial services. MFIs offer financial services, such as, small loans and savings facilities in the peri-urban and rural areas. Although expansion is much slower in rural areas, growth is evident along the line of rail and the peri-urban areas of the country,” Financial Sector Development Plan (FSDP).
ABOUT DR. GONDWE
PresidentMichael Sata appointed Dr. Michael Goondwe as Governor of the Bank of Zambia in 2011. Prior to this he was the President of the PTA Bank, Kenya. He served as the Bank’s longest serving admin staff (25 yrs).
Dr. Gondwe studied law at University of Zambia for his undergraduate, and his post graduate law studies were at University of Virginia. He also holds an MBA (Masters in Business Administration) degree from Moi University, Kenya, and a Diploma in Finance from the Kenya College of Accountancy. He is also an alumnus of the Advanced ManagementProgramme of the University of Oxford.
► For more info see the business section at the Zambian Website: http://www.Zambian.com
► Feb 2013 video and interview by CNBC Africa television network.

Bank of Zambia's Governor, Dr. Michael Gondwe, discusses on the state of financial inclusion and overall potential development of Zambia.
► Zambia’s economy is continually growing (above 6%) but it is growing in unequal ways where the poor are left out in this growth. Dr. Gondwe covers in brief on what the government is doing and ought to be doing to reduce the inequalities, and to spur more growth.
Among the major priorities are reducing dependency on copper which is still by far the backbone of Zambia’s economy. Unstable copper prices which highly impact Zambia’s economy have shown it’s not a dependable mainstay for our economy. Dr. Gondwe says reducing dependency on copper will come by increasingly diversifying into non-traditional exports. He says this is where Zambia's future strength lies.
He says Zambia has comparative advantages in the sub-region and beyond in many non-traditional exports like agriculture. GoodFDI is facilitating investment in these areas. On the domestic front there’s the critical need to increase the participation of Zambians in the economy. It is important that that all Zambians should benefit from our God-given resources.
One of the areas the government is working to facilitate increased economic participation of Zambians is in the financial sector. The financial sector is increasingly being reformed to address economic challenges that hinder more equitable growth. This includes access to affordable credit that can offer opportunities to financially excluded communities to start or advance their commercial ventures.
Thus financial inclusiveness is critical for lower-income households that have long been excluded from the mainstream credit market in Zambia’s liberalized economy. Zambia has a Financial SectorDevelopment Plan (FSDP) which has financial inclusiveness goals, among other things.
FINANCIAL INCLUSIVENESS
►In regard to financial inclusiveness in Zambia the national Financial Sector Development Plan (FSDP) says: “One of the widely recognised principal obstacles to economic growth has been the state of the financial sector, which currently plays a limited role in the economy. The financial sector is characterised by low financial intermediation (with limited access to financial services for the rural population and the low-to-middle income earners), high costs of funds and undeveloped money and capital market.
“The vision for the Financial Sector is therefore to have a stable, sound and market-based financial system that support the efficient mobilisation and allocation of resources necessary to achieve economic diversification, sustainable growth and poverty reduction.
“In order to realise this vision, a number of weaknesses in the financial sector need to be addressed including:
(i) low financial intermediation;
(ii) poor credit culture in the market;
(iii) the multiple and potentially conflicting roles of the Government in the financial sector;
(iii) the weak regulatory framework for non-bank financial institutions (NBFIs), insurance and pension funds;
(iv) the undeveloped capital market;
(v) lack of long-term development and housing finance; and
(vi) the limited number of monetary policy instruments.
“…The focus is on key elements of a strategy for restructuring the development finance institutions (DFIs), housing finance institutions (HFIs) and the rural banking institutions as well as developing a regulatory framework for the micro-finance institutions (MFIs).
“…Following the collapse of most of the subsidised and publicly funded rural finance institutions, such as, LimaBank, ZCFFinance Services and the Cooperative Bank in the mid-1990s, there has been a gap in the provision of financial services to the low-income households in the rural and peri-urban areas. …Micro finance institutions (MFIs) have risen to fill the gap in the provision of financial services. MFIs offer financial services, such as, small loans and savings facilities in the peri-urban and rural areas. Although expansion is much slower in rural areas, growth is evident along the line of rail and the peri-urban areas of the country,” Financial Sector Development Plan (FSDP).
ABOUT DR. GONDWE
PresidentMichael Sata appointed Dr. Michael Goondwe as Governor of the Bank of Zambia in 2011. Prior to this he was the President of the PTA Bank, Kenya. He served as the Bank’s longest serving admin staff (25 yrs).
Dr. Gondwe studied law at University of Zambia for his undergraduate, and his post graduate law studies were at University of Virginia. He also holds an MBA (Masters in Business Administration) degree from Moi University, Kenya, and a Diploma in Finance from the Kenya College of Accountancy. He is also an alumnus of the Advanced ManagementProgramme of the University of Oxford.
► For more info see the business section at the Zambian Website: http://www.Zambian.com
► Feb 2013 video and interview by CNBC Africa television network.

Zambians Need to Think BIG....again. | Sipho Phiri | TEDxLusaka

Sipho Phiri challenges Zambians to consider using the exploits of past generations as inspiration for creating a new narrative for Zambia. Sipho Phiri is a Zambian entrepreneur and a banker by profession with extensive Corporate Finance experience. Sipho has a wide range of business interests including the development of Western Power, a hydroelectric power station in Western Province, property development, a private cemetery and Zambia’s first Tier 3 multi-tenant data centre. Sipho recently established a solar power generation project, and along with his brother formed the DARP Foundation to promote education and sports for underprivileged Zambians. Sipho serves as Honorary Consul for the Kingdom of Denmark. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at https://www.ted.com/tedx

Zambia's finance minister presents $6.6bn budget to parliament

Zambia's finance minister has presented a 64.5 billion kwacha ($6.6 billion) budget to parliament.
The 2017 budget contains proposed measures aimed at curbing the country's budget deficit at a time when commodity price slumps have forced mine closures in the country as well as caused a rise in unemployment and food prices.
Finance MinisterFelix Mutati told parliament that Zambia would cut its fiscal deficit to 7 percent of Gross Domestic Product (GDP) in 2017 from the 2016 projection of 10 p…
READ MORE : http://www.africanews.com/2016/11/12/zambia-s-finance-minister-presents-66bn-budget-to-parliament
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Lusaka's Young Women Entrepreneurs

This is an inspiring story about a 19 year old girl in Lusaka, Zambia who, like many other young women in Africa, is her family's only hope for survival.
Annetty Chama searched for a job for 2 years, when her older brother who supported the family passed away her family's situation became desperate.
A phone call, a mobile money entrepreneur training programme and the 'Girl Effect' changed EVERYTHING.

Financing tops list of challenges for zambian small and medium-sized businesses

Financing tops list of challenges for zambian small and medium-sized businesses.
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Financing tops list of challenges for Zambian small and medium-sized businesses File: Assorted Zambian crafts for sale at the Lusaka Sunday Market The ZambiaDevelopment Agency has said that small and medium-sized enterprises (SMEs) are vital to creating jobs in Zambia and ensuring economic growth. Based on various studies, The World Bank estimates as much as eighty percent of Zambia’s private sector business comprises of SMEs, employing seventy-six percent of the country’s labour force. Yet, th...
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Invest Africa Episode 64: Lusaka as an Investment Destination

Lusaka is Zambia's heartland and capital city. It's the country's chief administrative centre and major financials, transportation and manufacturing hub. Lusaka is one of the fastest growing cities in the SADAC region with a population that stands at 1 461 000, according to the Southern AfricanCitiesNetwork. Watch the episode and explore more on the city's investment case.

Lusaka

Lusaka is the capital and largest city of Zambia. One of the fastest-developing cities in Southern Africa, Lusaka is located in the southern part of the central plateau at an elevation of about 1,279 metres (4,195 feet). As of 2010, the city's population is about 1.7 million, while as the urban population is 2.4 million. Lusaka is the centre of both commerce and government in Zambia and connects to the country's four main highways heading north, south, east and west. English is the official language of the city, but Nyanja and Bemba are also common.

Government and administration

As national capital, Lusaka is the seat of the legislative, executive and judicial branches of government, epitomized by the presence of the National Assembly (parliament), the State House (office of the President), and the High Court. The Parliament is situated at the Parliament complex, which features a 15-story building. The city is also the capital of Lusaka Province, the smallest and most populous of the country's nine provinces, and forms an administrative district run by Lusaka City Council. In 2007, the mayor was Steven Chilatu (PF), and the deputy mayor was Mary Phiri.